Sweden eCommerce Insights

Insights into the growth of Sweden eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled

 

Economy

Sweden is home to 9.8 million people with a total GDP of 496 billion USD. GDP per capita is currently 52,109 USD and expected to reach 55,851 USD by 2021. Sweden is ranked as the 14th richest country by the World Bank GDP per capita rankings.

Digital User Insights

There are currently 6.3 million eCommerce users in Sweden, with an additional 900,000 users to be shopping online by 2021. These 7.2 million eCommerce users will represent 86% of the total population. The average user spends 1,179 USD online, which will grow to 1,517 USD by 2021.

Sweden eCommerce number of online shoppers

Dividing internet usage into age groups, gives a better picture of the Swedish eCommerce market. 100% of those aged 16-24, 96% of those aged 25-34, and 99% of those aged 35-44 log on daily. The older generations log on regularly with those aged 45-54 showing a 93% daily penetration rate, and 55% of those over 55 logging on daily.

Sweden eCommerce daily internet usage rate

Product Categories

Total eCommerce revenue across all product categories is 7.5 billion USD, expected to reach 10.9 billion USD by 2021. Fashion is currently the leading product category, accounting for 2.6 billion USD market share. Electronics & Media is second, accounting for 1.7 billion USD.

By 2021, fashion will still lead the charge, valued at 4 billion USD. Electronics & Media will also grow, reaching 2.3 billion USD. 

Sweden eCommerce revenue by product category

Logistics

In 2016, Sweden was ranked 3rd in the World Bank Logistics ranking making it among the easiest countries in the world to deliver to. 86% of Sweden’s population reside in urban areas.

Preferred Online Payments

37% of Swedish online shoppers paid by invoice, and a further 35% used debit/credit cards. Bank transfers and payment wallets like Payson and PayPal were also popular.

Sweden eCommerce Preferred Online Payment Methods

Where does Sweden buy from?

Germany supplies Sweden with 23.1 billion USD in imports. Other key import partners are the Netherlands (10.9 billion USD), Denmark (9.6 billion USD), Norway (8.6 billion USD) and China (7 billion USD).

Sweden eCommerce Insights Import Partners

Internet and Device Usage

Internet penetration in Sweden is currently at 91%, and should reach 94% by 2021. Smartphone penetration is 78% and is projected to grow to 90% by 2021.  

87% of online shoppers in Sweden shop online via desktop. 4% of shoppers make purchases via tablet, and 6% made their most recent purchase via smartphone.

Sweden ecommerce devices used for online purchase

Marketing

Total Marketing spend in Sweden has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the highest market spend reaching 1.9 billion USD.  Television is the second highest market spend accounting for 896 million USD.

Sweden eCommerce Insights Advertising Spend

Social Media

Sweden’s Social Media Penetration is 58% in 2017, with this expected to surpass 59% by 2021. Facebook, Twitter, Pinterest, Reddit and Tumblr are the leading social networks.

Sweden eCommerce Social network Penetration

For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets. 

*Insights derived from eShopWorld data, Statista, WorldBank, OECD and other industry sources.

Top